IRIS Accounts Production v23.4.0.336 SC146537 Board of Directors 1.12.22 30.11.23 30.11.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1465372022-11-30SC1465372023-11-30SC1465372022-12-012023-11-30SC1465372021-11-30SC1465372021-12-012022-11-30SC1465372022-11-30SC146537ns15:Scotland2022-12-012023-11-30SC146537ns14:PoundSterling2022-12-012023-11-30SC146537ns10:Director12022-12-012023-11-30SC146537ns10:PrivateLimitedCompanyLtd2022-12-012023-11-30SC146537ns10:SmallEntities2022-12-012023-11-30SC146537ns10:AuditExemptWithAccountantsReport2022-12-012023-11-30SC146537ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-30SC146537ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-30SC146537ns10:FullAccounts2022-12-012023-11-30SC146537ns10:Director22022-12-012023-11-30SC146537ns10:CompanySecretary12022-12-012023-11-30SC146537ns10:RegisteredOffice2022-12-012023-11-30SC146537ns5:CurrentFinancialInstruments2023-11-30SC146537ns5:CurrentFinancialInstruments2022-11-30SC146537ns5:ShareCapital2023-11-30SC146537ns5:ShareCapital2022-11-30SC146537ns5:RetainedEarningsAccumulatedLosses2023-11-30SC146537ns5:RetainedEarningsAccumulatedLosses2022-11-30SC146537ns5:LandBuildings2022-11-30SC146537ns5:PlantMachinery2022-11-30SC146537ns5:LandBuildings2022-12-012023-11-30SC146537ns5:PlantMachinery2022-12-012023-11-30SC146537ns5:LandBuildings2023-11-30SC146537ns5:PlantMachinery2023-11-30SC146537ns5:LandBuildings2022-11-30SC146537ns5:PlantMachinery2022-11-30SC146537ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-30SC146537ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-30SC146537ns5:Secured2023-11-30SC146537ns5:Secured2022-11-30
REGISTERED NUMBER: SC146537 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

KINGS ARMS HOTEL LIMITED

KINGS ARMS HOTEL LIMITED (REGISTERED NUMBER: SC146537)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


KINGS ARMS HOTEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: D A J Fulton
Mrs P Fulton



SECRETARY: D A J Fulton



REGISTERED OFFICE: 31-33 St Andrew Street
CASTLE DOUGLAS
DG7 1EL



REGISTERED NUMBER: SC146537 (Scotland)



ACCOUNTANTS: Bell Ogilvy
Chartered Accountants
36 King Street
Castle Douglas
Dumfries & Galloway
DG7 1AF



BANKERS: The Royal Bank of Scotland
133 King Street
CASTLE DOUGLAS
DG7 1NB

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KINGS ARMS HOTEL LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kings Arms Hotel Limited for the year ended 30 November 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Kings Arms Hotel Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kings Arms Hotel Limited and state those matters that we have agreed to state to the Board of Directors of Kings Arms Hotel Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kings Arms Hotel Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kings Arms Hotel Limited. You consider that Kings Arms Hotel Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kings Arms Hotel Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bell Ogilvy
Chartered Accountants
36 King Street
Castle Douglas
Dumfries & Galloway
DG7 1AF


19 March 2024

KINGS ARMS HOTEL LIMITED (REGISTERED NUMBER: SC146537)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 285,257 287,713

CURRENT ASSETS
Stocks 8,223 7,198
Debtors 5 2,731 2,712
Cash at bank and in hand 198,868 217,457
209,822 227,367
CREDITORS
Amounts falling due within one year 6 432,838 476,614
NET CURRENT LIABILITIES (223,016 ) (249,247 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,241

38,466

PROVISIONS FOR LIABILITIES 9,925 9,773
NET ASSETS 52,316 28,693

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 52,314 28,691
SHAREHOLDERS' FUNDS 52,316 28,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KINGS ARMS HOTEL LIMITED (REGISTERED NUMBER: SC146537)

BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2024 and were signed on its behalf by:





D A J Fulton - Director


KINGS ARMS HOTEL LIMITED (REGISTERED NUMBER: SC146537)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Kings Arms Hotel Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover represents sales of meals, accommodation, drink and tobacco excluding VAT. All turnover was generated in the UK.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and Buildings-not provided
Fixtures and Fittings-10% straight line and 10% reducing balance
Computer Equipment-25% on reducing balance basis

Depreciation is not provided on freehold land. Freehold property is not depreciated where the directors are of the opinion that the buildings concerned are maintained to ensure that the residual values assessed on the basis of the price at the time of acquisition or subsequent valuation are not less than the carrying values and as a result the annual depreciation charge is not material to the financial statements.
Amounts written off each asset over the estimated useful life represent cost less residual value.
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

KINGS ARMS HOTEL LIMITED (REGISTERED NUMBER: SC146537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
Cash
Cash and cash equivalents comprise cash on hand and call deposits, and other short term high liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Accounts payable are classified as current liabilities if the company does not have conditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are represented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of financial activities over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

KINGS ARMS HOTEL LIMITED (REGISTERED NUMBER: SC146537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

REVENUE RECOGNITION
In accordance with the principle of revenue recognition, income is recognised as the right to consideration through performance of contractual obligations and is included in the financial statements when the company is legally entitled to the income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 258,199 114,721 372,920
Additions - 1,400 1,400
Disposals - (833 ) (833 )
At 30 November 2023 258,199 115,288 373,487
DEPRECIATION
At 1 December 2022 - 85,207 85,207
Charge for year - 3,413 3,413
Eliminated on disposal - (390 ) (390 )
At 30 November 2023 - 88,230 88,230
NET BOOK VALUE
At 30 November 2023 258,199 27,058 285,257
At 30 November 2022 258,199 29,514 287,713

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,731 2,712

KINGS ARMS HOTEL LIMITED (REGISTERED NUMBER: SC146537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,808 40,640
Trade creditors 800 -
Taxation and social security 32,626 11,342
Other creditors 393,604 424,632
432,838 476,614

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 5,808 40,640

Bank funding is secured by way of fixed and floating charges over the property and assets of the company.

8. OTHER FINANCIAL COMMITMENTS

The company had total financial commitments at the year end of £7,462.

9. RELATED PARTY DISCLOSURES

LOANS FROM DIRECTORS
The sum due by the company to the Directors, as at 30 November 2023 is £390,076 (2022: £421,188). This sum is interest free and is repayable on demand.